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Thursday, June 07, 2018

3 Banking Stocks

The following 3 banking stocks caught my attention yesterday. RHBBANK closed at RM5.61- just slightly above its strong horizontal resistance of RM5.60. This tentative breakout was preceded by steady built-up of volume over the past few days. If it can stay above the breakout level, I think RHBBANK may go to RM6.40-6.50.


Chart 1: RHBBANKS's weekly chart as at Jun 6, 2018 (Source: ShareInvestor)

If RHBBANK can break above the strong horizontal line, ABMB may follow suit and break above its horizontal line at RM4.48-4.50.


Chart 2: ABMBS's weekly chart as at Jun 6, 2018 (Source: ShareInvestor)

Now for the much-maligned AMBANK; this stock has broken above its downtrend line at RM3.65. The last breakout of a downtrend line (in December 2017) saw the stock rallied from RM4.20 to RM4.90.


Chart 3; AMBANKS's weekly chart as at Jun 6, 2018 (Source: ShareInvestor)

Good luck on your trading or bargain hunting!

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